Molybdenum Price Averages $12.74 a Pound in 2012

Research in China’s new report, Global and China Molybdenum Industry Report, 2012-2015, reveals that while the molybdenum market remained “in the doldrums” for the bulk of 2012, with output and consumption essentially equal, prices began to rise at the end of the year. The average price for the year was US$12.74 per pound, a 17.5-percent decline compared to 2011.

As quoted in the report summary news:

In 2012, the global molybdenum output was 229 kilotons and the consumption was 225 kilotons, basically in balance. With the recovery of steel demand since the fourth quarter of 2012, the demand for molybdenum is expected to resume growth. After 2014, some mines currently under construction will start production, such as Chile’s Sierra Gorda copper-molybdenum mine (controlled by KGHM and Sumitomo Metal) that is expected to start production in 2014. In addition, Grupo Mexico and Rio Tinto also plan to increase production.

In 2012, top 10 molybdenum producers accounted for 66.4% of the global output, and the U.S. Freeport was the largest molybdenum producer with a share of 17%, followed by Chile’s Codelo and GMexico.

Click here to view a summary of the Research in China report.